5 Stocks Making Big Moves After Earnings Reports

3. Stitch Fix, Inc. (NASDAQ:SFIX)

Number of Hedge Fund Holders: 35

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) advanced more than 15 percent on Wednesday, 22 September, 2021 after the company surprised investors by reporting a profit for its fiscal fourth quarter.

The online personal styling service posted earnings of 19 cents per share, while analysts were expecting a loss of 12 cents per share. Stitch Fix, Inc. (NASDAQ:SFIX) had reported a loss of 44 cents per share in the comparable period of 2020.

Revenue for the quarter climbed 29 percent on a year-over-year basis to $571.2 million, exceeding the consensus forecast of $547.8 million. In addition, Stitch Fix, Inc. (NASDAQ:SFIX) posted revenue of $2.1 billion for its fiscal year ended 31 July 2021, marking the highest annual revenue in the history of the company.

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Stitch Fix, Inc. (NASDAQ:SFIX) also issued its sales outlook for the current quarter and full year. It expects revenue in the range of $560 million to $575 million for its fiscal first quarter, translating to year-over-year growth between 14 – 17 percent. For its FY 2022, the company expects revenue growth of at least 15 percent on a year-over-year basis.